Market closed in Sydney at 18:05 AEDT on February 15, 2026.
Lynas Rare Earths slipped 0.2% to finish at A$15.97 on Friday, as the ASX heads into a weekend closure. Shares moved in a range from A$15.25 to A$16.38 during the session, and roughly 5.7 million shares were traded. 1
Traders are watching for the next move from China’s price tape. Neodymium held steady at 1,065,000 yuan per tonne on Feb. 13, but it’s surged 28.7% over the last month, according to Trading Economics. An industry note said domestic rare earths didn’t show much momentum heading into the weekend. NdPr — that’s neodymium and praseodymium — is the magnet material Lynas supplies for electric motors and other high-strength applications. 2
There’s a fresh angle on rare earths pricing emerging. CME Group is reportedly developing a futures contract based on NdPr, according to sources who spoke with Reuters. The market for these metals? Still pretty thin, with China setting most of the benchmarks. 3
The stock’s been moving around—no new filings, but it finished at A$14.27 on Feb. 6, jumped up to A$16.00 by Feb. 12, then slipped back before Friday’s close, daily figures show. 4
Lynas last gave investors a major update back in January, reporting a 43% surge in sales revenue for the second quarter, reaching A$201.9 million. Higher prices managed to counterbalance reduced output. CEO Amanda Lacaze told analysts that “the market settings remain positive” and made it clear that customers would need to pay prices that “properly reflect the cost of doing business”. 5
The latest quarterly update flagged ongoing bottlenecks. Lynas reported that kiln maintenance wrapped up at its Malaysia facility, allowing cracking and leaching operations to resume in January. Over at Kalgoorlie, electricity supply has steadied following efforts by the local provider, though the company continues to work on an off-grid fix. 6
Leadership hasn’t been front and center, either. Lacaze informed the board last month that she plans to step down after 12 years at the helm; Terra Capital’s Dylan Kelly described her run as “spectacular.” Argo Investments portfolio manager Andy Forster added: “To her credit, they have a plant up and running, way ahead of any of the competition.” 7
Policy risk still hangs over the sector and U.S. rival MP Materials. Back in late January, Reuters reported that Washington was pulling back from talks on setting government-backed “price floors” for critical minerals. A senior U.S. official told Reuters, “We’re not here to prop you guys up.” Canaccord analyst Reg Spencer thought the selloff that followed was overblown. Lynas, for its part, said “price protection is most relevant for current producers.” 8
ASX saw no fresh company announcements Sunday, so investors looked to commodities and policy moves to guide them ahead of Monday’s session. 9
The risk hasn’t disappeared. Back in November, Lynas flagged that power issues at Kalgoorlie might shave roughly a month off production, which could hit finished goods numbers in Malaysia. Following that news, Canaccord Genuity trimmed its forecasts. 10
March 25 stands out as the next big marker: that’s when a major Chinese metals industry group is set to convene a policy briefing in Beijing on export controls and compliance covering rare earths and key minerals, according to an event notice. The market will be tuned in. Any change in rhetoric could ripple straight through spot prices — and hit Lynas shares as well. 11
